Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Buy Zone (1.00125 to 0.99500). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.

We would set buy orders based on Daily-Trading-Opportunities and expect to reach short-term targets.

• Beginning of entry zone (1.00125)
• Ending of entry zone (0.99500)

Midterm forecast:

• While the price is above the support 0.99500, beginning of uptrend is expected.
• We make sure when the resistance at 1.03700 breaks.
• If the support at 0.99500 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

• While the RSI resistance #1 at 50 is not broken, the probability of price increase would be too low.
• A trough is formed in daily chart at 1.00970 on 07/27/2022, so more gains to resistance(s) 1.02291 and maximum to Major Resistance (1.03700) is expected.
• Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
• Relative strength index (RSI) is 45.

Take Profits:

1. 1.02291
2. 1.03700
3. 1.05454
4. 1.07850
5. 1.09485
6. 1.11850
7. 1.14620
8. 1.16909
9. 1.19105
10. 1.22650